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Today in Russian Business – March 25, 2009

Dmitry Medvedev spoke about the need ‘to look into the future at yesterday’s Security Council meeting.  But the Moscow Times is suspicious of Deputy Prime Minister Igor Shuvalov’s positive proclamations about Russia’s economic prospects, referring to his ‘fairy-tale ending’ of a promise that Russia could become the world’s most desirable place to live by 2020.  ‘A certain growth on the stock markets and in oil prices must not get us complacent. This is most likely to be a temporary improvement,’ noted Finance Minister Alexei Kudrin.  Deputy Prime Minister Sergei Ivanov is anxious that the Kremlin should not ‘throw all of its reserves’ at the financial crisis.  The ruble, at last, is gaining strength against the dollar, enough to prompt the Central Bank to take measures to help it rise more gradually.  US President Barack Obama has dismissed suggestions by Russia and China that the world needs a new reserve currency.  Foreign Minister Sergei Lavrov says the government will stay out of the Telenor/Vimpelcom dispute.